HMRC: Two weeks to go! Don’t wait

  • HMRC urges customers to file their Self Assessment tax returns ahead of the 31 January 2025 deadline to avoid a £100 late filing penalty.
  • More than 7.4 million Self Assessment customers have already filed their tax return for the 2023 to 2024 tax year.

With only a couple of weeks until the Self Assessment deadline, HM Revenue and Customs (HMRC) is urging millions of taxpayers not to delay filing their return and paying any tax due by 31 January.

More than 7.4 million Self Assessment customers have filed their tax return for the 2023 to 2024 tax year since 6 April 2024. Those who miss the deadline could face a £100 late filing penalty, even if no tax is owed, and HMRC is urging people to act now and make use of the wide range of support available.

Anyone who is new to self-assessment will need to register before they can send their tax return. They can register on GOV.UK and should allow up to 10 working days to receive their Unique Taxpayer Reference (UTR) which they can access through HMRC Online Services or the HMRC app.

HMRC provides free, easy to access resources on GOV.UK to guide people through the filing process including detailed support and guidancewebinarshelpsheets as well as videos on YouTube.

 
 

Myrtle Lloyd, HMRC’s Director General for Customer Services, said:

“The Self Assessment deadline is fast approaching, don’t leave completing your tax return to the last minute. There is plenty of support available to make filing as straightforward as possible, just search ‘help with Self Assessment’ on GOV.UK to find out more.”

People may need to file a return if they:

  • are newly self-employed and have earned gross income over £1,000
  • earned below £1,000 but wish to pay Class 2 National Insurance Contributions voluntarily to protect your entitlement to State Pension and certain benefits
  • are a new partner in a business partnership
  • have received any untaxed income over £2,500
  • receive Child Benefit payments and need to pay the High Income Child Benefit Charge because you or your partner earned more than £50,000

Anyone who no longer needs to file a Self Assessment return, should inform HMRC now using the online form. Self Assessment customers can pay any tax owed quickly and securely through the HMRC app. A full list of ways to pay is available on GOV.UK or contact HMRC for additional support.

 
 

Anyone who regularly sells goods or provides a service through an online platform can find out more about selling online and paying taxes. The information on GOV.UK will help them decide if their activity should be treated as a trade and if they need to complete a Self Assessment tax return. 

Criminals use emails, phone calls and texts to try to steal information and money from taxpayers. Before sharing their personal or financial details, people should search ‘HMRC tax scams’ on GOV.UK to access a checklist to help them decide if the contact they have received is a scam   

People should never share their HMRC login information with anyone. Someone could use them to steal from them or claim benefits or a refund in their name. 

Notes to Editors

 
 
  1. More information about Self Assessment 
  2. HMRC wants to help you get your tax right. Lots of information and support is available online which includes:  
  • HMRC’s digital assistant  – the assistant will help you find information, and if you can’t what you’re looking for you can ask to speak to an adviser.  
  • guidance notes and help sheets and YouTube videos provide a wealth of information if you’re stuck or confused.  
  • live webinars where you can ask questions or if you can’t join, you can watch recorded webinars on demand.  
  • HMRC app and Personal Tax Account – you can instantly find your Unique Taxpayer Reference, make a Self Assessment payment, get your National Insurance number and get your employment income and history for your tax return.  
  • HMRC online services – you can find your tax calculation, statements, previous tax returns and complete your online tax return which has integrated help and support included at every step.
  • subscribe to HMRC email updates so you don’t miss out on the latest information on Self Assessment. 
  • Follow HMRC Twitter @HMRCcustomers to get the latest updates on Self Assessment services and useful reminders.  
  • If you need extra support to help your with Self Assessment you can contact a voluntary or community sector organisation who can provide you with help and advice, or you can get support directly from HMRC
  1. It is important that customers let HMRC know of any changes to their circumstances. Customers can use the HMRC app to update their details including a new address or name. Customers also need to let us know if they’ve stopped being self-employed or need to change their business details. This can be done online at GOV.UK. 
  2. The penalties for late tax returns are:
  • an initial £100 fixed penalty, which applies even if there is no tax to pay, or if the tax due is paid on time
  • after 3 months, additional daily penalties of £10 per day, up to a maximum of £900
  • after 6 months, a further penalty of 5% of the tax due or £300, whichever is greater
  • after 12 months, another 5% or £300 charge, whichever is greater

    There are also additional penalties for paying late of 5% of the tax unpaid at 30 days, 6 months and 12 months. If tax remains unpaid after the deadline, interest will also be charged on the amount owed, in addition to the penalties above.

Related Articles

Sign up to the IFA Newsletter

Please enable JavaScript in your browser to complete this form.
Name

Trending Articles


IFA Talk logo

IFA Talk is our flagship podcast, that fits perfectly into your busy life, bringing the latest insight, analysis, news and interviews to you, wherever you are.

IFA Talk Podcast – listen to the latest episode